Emeritus Prof Christopher May on Nostr: The 'Bank of Mum & Dad' sounds nice & cosy... but of course, its also a key mechanism ...
The 'Bank of Mum & Dad' sounds nice & cosy... but of course, its also a key mechanism for entrenching #inequality in the UK.
Those who have property (they can remortgage) or cash in the bank help their children also buy property, while those without the spare cash/capital, see their children stuck in renting hell or living back at home...
If we had a humane & secure #rental sector this wouldn't be such a problem but with a Govt. of #Landlords this'll never happen
https://www.theguardian.com/money/2023/aug/28/bank-of-family-to-help-a-record-number-of-uk-house-buys-this-year
Those who have property (they can remortgage) or cash in the bank help their children also buy property, while those without the spare cash/capital, see their children stuck in renting hell or living back at home...
If we had a humane & secure #rental sector this wouldn't be such a problem but with a Govt. of #Landlords this'll never happen
https://www.theguardian.com/money/2023/aug/28/bank-of-family-to-help-a-record-number-of-uk-house-buys-this-year